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21 Mar, 13:03

Bank of Russia to remain committed to 4% inflation target despite external risks

Elvira Nabiullina also noted that the nature of current inflation requires a long period of maintaining tight monetary conditions

MOSCOW, March 21. /TASS/. The Bank of Russia will remain committed to targeting inflation at 4% despite external uncertainty, the regulator’s Governor Elvira Nabiullina said at the press conference after the board meeting.

The expectations and sentiment of financial market participants are influenced by the revision of their assessments to possible improvement of the geopolitical situation, she noted. "However, our policy is based on stable trends, fundamental factors, firm facts, and a conservative approach to risk assessment. It is critical to remain committed to this approach for confidently returning inflation to 4% in 2026 irrespective of how the external situation unfolds," Nabiullina added.

She also noted that the nature of current inflation requires a long period of maintaining tight monetary conditions.